The Ibex 35 retreats to 19,172 points, its lowest level since November 4. Industria de Diseño Textil and Telefónica lead the index's losses.
According to FXStreet, the Ibex 35 opened Friday's session at 19,363 points and gradually lost ground until reaching 19,172 points, the lowest since November 4. At the time of reporting, it was trading at 19,176 points, down 1.32%.
The largest losses correspond to Industria de Diseño Textil (ITX), which fell 3.93% to mark two-day lows at 57.54 euros, following two consecutive sessions of gains. Telefónica (TEF) dropped 3.02% to 3.338 euros, its lowest level since November 4, marking two consecutive days in the red.
On the macroeconomic front, Eurostat reports that retail sales in the eurozone fell 0.7% month-on-month in September, after a 2% decline in August. The expected figure pointed to a decrease of 0.1%.
Meanwhile, the chief economist of the European Central Bank, Philip Lane, reiterated that inflation must return to target within one to two years and acknowledged a tightening of financial conditions.
On the technical side, the index has short-term support at 17,916 points, the low from June 10, and the next key level is at 17,239 points, the low from May 4. On the upside, the nearest resistance is at 20,310 points, the all-time high from August 13.
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